Welcome to another edition of Price Reduced!
For all the newcomers to this blog, Price Reduced! takes a look at a handful of significant price reductions across Northern NJ. The purpose of this exercise is to serve as proof that the Northern New Jersey real estate market has long since been overvalued and has started the long hard decline back to the mean. These listings are in no way an endorsement by myself, nor do I believe they are a bargain or a value. Even reduced, I still believe these homes are still grossly overpriced.
I’m going to change things up a little bit to keep the content fresh. I’m sure readers here don’t need to be convinced that sellers are dropping prices quickly, so I’m going to look at Price Reduced! from some new angles in the upcoming weeks.
In this edition of Price Reduced! we’ll be looking at price reductions of properties with asking prices below $500,000. The media has been reporting that there has been a slow down at the upper end, but what about the lower? Judge for yourself.
On to the Sub-500 Editition of Price Reduced!
MLS# 2105351 – Hardyston, NJ
List Price $250,000
Reduced Price $185,000 (Price Reduced 26.0%)
MLS# 2227865 – Newark, NJ
List Price $398,000
Reduced Price $298,000 (Price Reduced 25.13%)
MLS# 2203984 – Victory Gardens, NJ
List Price $239,900
Reduced Price $199,900 (Price Reduced 16.67%)
MLS# 2225458 – Elizabeth, NJ
List Price $439,900
Reduced Price $379,000 (Price Reduced 13.84%)
MLS# 2223389 – Passaic, NJ
List Price $369,900
Reduced Price $324,900 (Price Reduced 12.17%)
MLS# 2106314 – Fredon, NJ
List Price $424,900 (Reduced from $434,900)
Reduced Price $375,000 (Price Reduced 11.74%)
MLS# 2112679 – Hopatcong, NJ
List Price $299,500
Reduced Price $269,000 (Price Reduced 10.18%)
MLS# 2105097 – Haledon, NJ
List Price $475,000
Reduced Price $429,000 (Price Reduced 9.68%)
MLS# 2221729 – Teaneck, NJ
List Price $409,500
Reduced Price $369,900 (Price Reduced 9.67%)
MLS# 2108989 – Oakland, NJ
List Price $428,900 (Reduced from $449,900)
Reduced Price $389,900 (Price Reduced 9.09%)
MLS# 2111412 – Parsippany, NJ
List Price $549,900 (Reduced from $575,000)
Reduced Price $499,900 (Price Reduced 9.09%)
MLS# 2200619 – Midland Park, NJ
List Price $547,500 (Reduced from $575,000)
Reduced Price $499,000 (Price Reduced 8.86%)